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Bass Strait Oil Company has proposed equity raising to announce, in pre open

Published: 13:20 13 Aug 2012 AEST

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Bass Strait Oil Company (ASX: BAS) has been granted a trading halt today pending the release of proposed capital raising details, with the company's shares placed in pre-open.

Bass Strait Oil has not yet indicated where the potential inflow of fund will be allocated, but the company recently in a positive move consolidated its onshore Otway Basin portfolio with the award of PEP 175, the renewal of PEP 167 and the farm-in to PEP 150.

The company's acreage over the central Victorian sector of the basin now extends to over 2300 net square kilometres.

The halt will last until the earlier of an announcement being made to the market, or the opening or trade on Wednesday 15th August.

 

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